Courtesy SmartRent

SmartRent is driving changes to alleviate a property management pain point: parking. The smart home automation provider has launched Alloy Parking, which leverages the latest technology to streamline parking space management as well as increases revenue by monetizing underutilized spaces.

According to SmartRent, assigning parking spaces to residents can be a manual and tedious process for site teams, and enforcement of bad actors not parking in the right spots or not paying for parking in real-time can be challenging. In addition, guest parking revenue streams can be fragmented between different vendors and hard to manage from a centralized standpoint.

Alloy Parking helps to solve these issues by creating a single source of management for parking facilities throughout a portfolio; proactively managing resident parking with sensors to monitor spaces, automate enforcement, and assign spaces; and optimizing revenue.

The system can help manage surface parking for communities of all sizes—from surface lots at garden-style properties to garage parking for urban high-rises. So far, Alloy Parking is live at one multifamily community, Aimco’s Canyon Terrace Apartments in Santa Clarita, California. It also is being piloted by five organizations at eight properties.

“As property managers adapt to dynamic trends in car ownership and mobility, they can no longer rely on outdated parking models with ATM-style machines and unused spaces,” said Lucas Haldeman, CEO and co-founder of SmartRent. “Alloy Parking modernizes the parking model in a time when both residents and property owners want smarter solutions. We saw the need for a seamless software interface that reacts to parking needs in real time, making the parking experience frictionless for residents and flexible for managers.”

To monitor parking in real-time, SmartRent partnered with Engrain, a real estate visualization provider, to develop interactive maps, which provide real-time space occupancy. Managers also can adjust pricing for guest parking according to demand and desirability. If there’s an excess of underutilized assigned parking, it can be turned into guest spaces to garner additional revenue.

In addition, Alloy Parking is compatible with SmartRent’s Community Manager platform. For example, if the Alloy Parking software is combined with SmartRent’s Alloy Access system, which allows access control, the integration can assign mobile credentials to parking garages or gated lots to enable residents to move in without having to meet a manager.